A new flood coverage suite from Privilege Underwriters Reciprocal Exchange, or PURE, now offers another choice to owners of high-value homes across the United States. PURE focuses on insuring the needs of high-net worth individuals, offering coverage for jewelry, art, watercrafts, personal liability, as well as auto and homeowners insurance. PURE chief operating officer Martin Hartley says the company saw a need for a better flood insurance option for this segment of individuals after Hurricane Irene, which ripped through the East Coast during the hurricane season of 2011.
PURE Flood Solutions works as an extension of the National Flood Insurance Program’s Write Your Own Insurance program, where PURE issues and services the flood insurance policies, but the NFIP covers the losses.
In this podcast, Hartley talks about how the coverage works, as well as how the company is working with agents and brokers to help educate insureds on their flood insurance exposures.